Turkish flour firm Söke buys 12.65% of U.S. based bread-maker Rudis

Turkish flour firm Söke buys 12.65% of U.S. based bread-maker Rudis

Published October 09,2023


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Turkish flour producer Söke purchased 12.65% of U.S.-based bread maker Rudi’s, the top of Turkish agency stated Monday.

Eren Günhan Ulusoy stated the acquisition was accomplished on Sept. 22, in line with a press launch.

Established in 1976 in Colorado, Rudi’s is particularly energetic in natural and gluten-free bread making.

Söke’s earnings final yr amounted to 2.49 billion Turkish liras (about $150.2 million), whereas its gross sales reached 1.9 billion liras (about $116.7 million) within the first half 2023, Ulusoy stated.

The agency can also be increasing its actions into different sectors, together with vitality, Ulusoy explaining: “We are building a solar power plant with an installed capacity of 11,000kW on 105 decare-field (about 26-acre) in central-Anatolian province Konya to meet Söke’s annual energy need of 16 million kWh.”

Source: www.anews.com.tr